Forex trading in india

Hello piyush 

Forex trading is not illegal completely in INDIA,you can trade but it restricted certain currencie.In India you can trade within the bracket of following currencies----

USD-INR, YEN- INR, GBP- INR and EUR-INR pairs and in cross currencies you can trade on  within EUR-USD, GBP-USD, and the USD- JPY pairs.

But RBI is preparing a platform for SMEs which is under observation after complete of it RBI will launch the plateform where retail investors can trade in Forex currencies,but still then you need to go through other brokers who provide forex trade.

You can read the RBI notificaation for setup of Forex trade (link geven below)

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8427&Mode=0

Hope it will clear you doubt!

Hello piyush

On base of this notification they process to established plateform,and may be within this FY RBI will launch the plateform for all retailers,Untill then you can trade only on above pairs of currencies.

In India you can trade within the bracket of following currencies---- USD-INR, YEN- INR, GBP- INR and EUR-INR pairs and in cross currencies you can trade on  within EUR-USD, GBP-USD, and the USD- JPY pairs.

 

Originally posted by : piyush
	thanks for your vallauable suggestion. I am searching from a long time . can I file RTI to reserve bank of india for getting exact information .

yes sure you can go through RTI

Hello SB Karma,

Can I trade XAUUSD(Spot Gold) in forex via FXTM, XM, OctaFX as an indian citizen? Will I face any trouble from income tax and Enforcement Directorate(ED) due to this?